- Posted September 29, 2009 by
This iReport is part of an assignment:
Homeless find temporary haven in tent camps - Why am I homeless???
After reading the article on CNN.com titled "Homeless find temporary haven in tent camps, I was driven to sign up and write a bit about my situation. My heart goes out to those in this situation, and if not for the blessing of my family and friends, myself, my wife, and my two young boys would be in the same situation. I read in the article stories of lost jobs and lower incomes, not sufficient to support a family. In my situation, both myself and my wife have good jobs, good credit, and had a home until last Friday. Considering the market conditions, we figured we would put our house up for sale and if we were fortunate enough to find a buyer, maybe we could take advantage of the lower home prices to move into a better neighborhood and bigger house for our boys. It took a long time, but we finally found a solid buyer and the home of our dreams that we could actually afford. We went through all the steps, paperwork, and process involved and were scheduled to close on our house at 9am, and on our new house at 11am on Friday. Thursday morning at around 11am, I get the call, and my realtor tells me that the bank is not accepting the appraisal that I paid $400 for, and that they have assigned the house at $55k less then originally agreed to. At this point,, our entire lives are packed up in trucks and trailers and we are waiting to celebrate in our new home. Well, no celebration here. Bank says sorry, but some committee didn't approve the appraisal, so we aren't giving you the money. Work it out and call us back...Good luck.
Ok, so now I'm homeless and have a bunch of trucks full of stuff that are costing me money to keep, unless I unload them in the street somewhere. What do you do? As I started, fortunately, I am blessed, so we are staying with my mother, and trying like crazy to get this resolved with the sellers, so we have a place to live, but I ask, Why am I in this situation? I have a good job, good credit, had a home and car, and did absolutely everything I was asked and required to do by the bank, realtors, mortgage brokers, etc.,etc.. 24 hours before we are ready to celebrate the beginning of our new life in our new home, someone, somewhere decides that they would rather not give us the money that I was pre-approved for because some government committee didn't agree with the appraisal. Ok, maybe things need adjusted or re-evaluated, but 24 hours before closing a call to say sorry, but good luck, just doesn't cut it.
I'm sure that everyone is safely covered in the fine print somewhere, but there is obviously a serious problem with this system, and if someone doesn't correct this, more and more people that could be contibuting to the economy will end up in tent cities wondering how this happened...